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ZkSNARKs auction clears at 1.5 ZEC with 16,971 bids in landmark privacy-first sale
The 48-hour blind auction for encrypted digital identities on Zcash drew over 25,000 ZEC in total volume, with cross-chain bidding powered by NEAR Intents
A blind auction for 8,000 encrypted digital identities on the Zcash blockchain just wrapped up, and the numbers tell a story of genuine demand for privacy tools. The zkSNARKs project’s auction cleared at a uniform price of 1.5 ZEC per identity after attracting 16,971 bids and a total volume of 25,305 ZEC.
That’s roughly 17,000 people competing for 8,000 spots, which means more than half of all bidders walked away empty-handed. Their consolation prize: automatic refunds, processed through Zcash’s shielded transactions so nobody could tell who lost.
How the auction worked
The sale ran for 48 hours, closing on September 17, 2026, at 12:00 ET. The format was a uniform-price blind auction, meaning every winner paid the same clearing price of 1.5 ZEC regardless of how much higher they actually bid.
Privacy wasn’t just a feature of the identities being sold. It was baked into the bidding process itself. Participants could submit fully private bids using Zcash’s shielded transactions, which leverage the same zk-SNARK cryptographic proofs that give the project its name. In practical terms, that means neither the bid amounts nor the bidders’ identities were visible on-chain during or after the auction.
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The 8,000 identities represent the bulk of the project’s 10,000-unit collection. The remaining 2,000 were split evenly: 1,000 earmarked for complimentary distribution through a SNARKLIST, and 1,000 held in the project’s treasury for future development.
Cross-chain bidding through NEAR Intents
The zkSNARKs team integrated NEAR Intents to allow participants to bid and settle in ZEC even if their assets started as ETH, SOL, or stablecoins. The conversion and settlement happened under the hood, lowering the barrier for users who wanted to participate but didn’t already hold Zcash.
What the identities actually do
The encrypted digital identities are designed to serve as on-chain reputation and community access tools. The project has described them as building blocks for governance features that are still under development. Owning one would theoretically grant holders access to community functions, voting mechanisms, and other participation layers that rely on proving identity without revealing it.